"John, Alan and Andy's track records speak for themselves. I am in no doubt that their proven skills, in particular the operational and strategic rigour which they applied so successfully to the remarkable turnaround at ICI will be brought to bear, alongside those of the existing Rentokil Initial team, on the many and complex issues facing the group."

The appointments cheered investors, who are keen to see Rentokil either put back on track or broken up to realise value.

]]>Thu, 20 Mar 2008 08:53:00 +0000https://www.proactiveinvestors.co.uk/companies/news/1488/boardroom-shakeup-lifts-rentokil-initial-2217.htmlCitylink sinks Rentokillhttps://www.proactiveinvestors.co.uk/companies/news/1409/citylink-sinks-rentokill-2124.html
Financial highlights for the year to 31 December 2007 included revenues up 20.3% to £2.2 billion, but profits before tax fell £23.4 million to £142 million. Rentokill maintained its full year dividend at 7.38 pence per share.

Rentokill said that performance from its Textiles & Washroom, Pest Control, Asia Pacific, Facilities Services and Ambius divisions were in line with expectations, but the City Link division had held back the group with a poor performance in the final quarter of 2007.

Doug Flynn, CEO of Rentokil, said:

"Despite the progress delivered by most of the group, the performance from City Link was unacceptable. Actions are in hand to improve the situation but this is a trend business and improvements will take time to come through."

Rentokill added that it expected its 2008 adjusted pre-tax profit to be "significantly lower" than 2007, and will be "heavily dependent on the performance from City Link".

Calls from stakeholders to break up Rentokill to maximise value is a theme likely to return.
]]>Thu, 28 Feb 2008 08:13:00 +0000https://www.proactiveinvestors.co.uk/companies/news/1409/citylink-sinks-rentokill-2124.htmlRentokill plunges on parcel business woeshttps://www.proactiveinvestors.co.uk/companies/news/1157/rentokill-plunges-on-parcel-business-woes-1756.html
In the update, the support services group said that trading at its express parcels delivery business, City Link, had "softened" over the quarter, and would now deliver profits £10 million below management expectations.

Rentokill added that trading at all of its other division remained inline with expectations.